, Columnist
The CLO Market Is Sending a Quiet Warning
Investors are shedding riskier debt in fear of a slowdown.
Pay attention.
Photographer: AFP/AFP/Getty Images
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If we learned anything from the housing crisis, it’s that not all credit ratings are created equal. AAA-rated Treasury debt turned out to be a great deal safer than, say, AAA-rated Do You Feel Lucky Punk CDO Squared Ltd.